Sonera and Telia to consolidate Latvian interests.

EUROPEMEDIA-(C)2002 Van Dusseldorp & Partners - http://www.vandusseldorp.com/

Sonera and Telia expect to consolidate their Latvian interests following the telecoms firms? planned merger, said Telia president Marianne Nivert.

Both Sonera and Telia hold stakes in Latvia?s Lattelekom fixed-line telecoms monopoly and the country?s largest mobile operator Latvijas Mobilais Telefons (LMT). "We are thinking of consolidating both companies," Nivert said.

However, Latvian business daily Dienas Bizness reported that Nivert did not disclose any further plans for Telia in the Baltics, as part of the company?s policy of abstaining from making specific forecasts.

If the European Commission approves the proposed Sonera and Telia merger, the new company will be headed by Anders Igel, former executive director of Esselte stationary company and a Telia board member.

"Baltic companies have accumulated knowledge and competence, which we can use for developing and creating services," Nivert said, hinting that the future Nordic and Baltic company does not intend to sell its stakes in Latvian companies.

Sonera owns 49 per cent of Lattelekom through Tilts Communications, while both Telia and Sonera each hold 24.5 per cent of LMT. Lattelekom also holds 23 per cent of LMT. ((Distributed via M2 Communications Ltd - http://www.m2.com))